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THURSDAY, OCTOBER 17, 1991
THE
GOVT CONFIDENT OVER LAND SUPPLY
ADMINISTRATION 19 CONFIDENT THAT
DENSITY WILL BE MADE APPROPRIATE DEVELOPMENT AROUND 70,000 RESIDENTIAL FLATS PER YEAR FOR THE NEXT FIVE SATISFY PUBLIC DEMAND.
THIS WAS STATED BY THE ACTING SECRETARY
AND LANDS, MR BOWEN LEUNG, IN THE ENVIRONMENT TODAY (THURSDAY).
THESE SAID
ΤΟ
LAND ENOUGH AVAILABLE
WITH
PRODUCE YEARS TO
FOR LEGISLATIVE
PLANNING, COUNCIL
SIGNIFICANT
EFFECT
IN
UNITS NOT
LEUNG MR
A SHOULD HAVE STABILISING THE PRICES OF RESIDENTIAL PROPERTIES.
WHEN ADDRESSING THE ISSUE OF LAND SUPPLY AND RESIDENTIAL TO BE PRODUCED, HE SAID THE AREA OF LAND TO BE MADE AVAILABLE WAS
GIVEN ΤΟ THE THE ONLY CONSIDERATION, AND THAT DUE ACCOUNT MUST BE DEVELOPMENT DENSITY PERMITTED ON THE SITES.
THE
MR LEUNG WAS REPLYING TO A QUESTION BY DR THE HON LÀM KUI-CHUN. HE SAID HOWEVER IT WAS NOT THE ADMINISTRATION'S POLICY TO CONTROL PRICE OF PRIVATELY DEVELOPED PROPERTIES.
"HONG
VERY
KONG'S PROSPERITY AND ECONOMIC COMPETITIVENESS ARE
THE PRICES OF OUR MUCH BASED ON ITS BEING A FREE MARKET ECONOMY. GOODS AND COMMODITIES, INCLUDING THAT OF PROPERTY, ARE PRINCIPALLY SET BY MARKET FORCES.
SOME TIME HOWEVER, MR LEUNG SAID, THE ADMINISTRATION HAD FOR BEEN DETERMINED
AND PREVENT TO DETER THE UNSCRUPULOUS TRADING IN, PUBLIC DISORDER AT, THE SALE OF UNCOMPLETED RESIDENTIAL FLATS, AS WELL AS PROTECTING THE INTEREST OF GENUINE HOME BUYERS.
"WE
AIM TO ACHIEVE THESE OBJECTIVES THROUGH BETTER REGULATING PUBLIC, THE SALE PROCEDURES, MORE DISSEMINATION OF INFORMATION TO THE
H HE SAID. AND ENSURING AN ADEQUATE SUPPLY OF LAND TO MEET DEMAND,
ADMINISTRATION AND AUGUST PARTIES
IN THIS CONNECTION, MR
THE LEUNG SAID, INTRODUCED TWO BATCHES OF MEASURES IN DECEMBER LAST YEAR AND
AFTER THIS YEAR
A SERIES
WITH VARIOUS OF CONSULTATION CONCERNED, INCLUDING MEMBERS OF OMELCO.
"THEY INCLUDE REQUIREMENTS ON THE DEVELOPERS TO MAKE AVAILABLE EARLY INFORMATION ON THE NUMBER AND PRICES OF FLATS FOR SALE, REGISTER
FLAT POTENTIAL
PURCHASERS, INCREASE THE AMOUNT OF DEPOSITS AND FORFEITURES, BALLOT THE ORDER OF SELECTING FLATS FOR PURCHASE, BTC.
AS DISCLOSURE
ON
"FURTHER MEASURES, SUCH
INFORMATION OF CONFIRMOR SALE AND RESTRICTION ON RE-SALE OF FLATS ALLOCATED PRIVATELY BY THE DEVELOPERS, ARE BEING CONSIDERED," HE SAID.
WITH REGARD TO THE SUPPLY OF LAND, ON AVERAGE 100 HECTARES WERE MADE AVAILABLE FOR BOTH PUBLIC AND PRIVATE HOUSING EACH YEAR OVER LAST FIVE YEARS.
THE
/"THIS YEAR